Skip to comments.Australia to Abandon the U.S. Dollar (Greenbacks turn into Yellowbacks).
Posted on 04/16/2013 9:05:11 PM PDT by Kolath
Australias announcement that it is abandoning the U.S. dollar for trade with China is the latest broadside in the global currency war. Starting April 10, Australia and China will no longer use the U.S. dollar for trade between the two nations. For the first time, Australian businesses will be able to conduct trade in Chinese yuan. No more need for U.S. dollar intermediation.
This is a significant announcement and key development for China as it continues its campaign to internationalize the yuan and chip away at the dollars role as the worlds reserve currency.
(Excerpt) Read more at thetrumpet.com ...
Can’t say I blame them.
Barry and the ‘RATS’ plan seems to be working.
Gee all that QE and what do we have to show for it?
Yep, well that’s what happens when we elect a bunch of bums to run the country.
‘I invested in the Dollar and all I have Left is this Lousy Tee-Shirt’
File this one under “death of the dollar.”
We are in the final days of the greenback as the world reserve currency.
Our future: Argentina with nukes.
Agreed, why make your people suffer through someone else's financial suicide?
We’ll be worse off than Argentina.
The Argies have all that wonderful inexpensive beef. They have steak for breakfast, lunch & dinner.
Who needs nukes when you eat that well?
China still manipulates their currency and as a currency it’s a far worse bet than dollar. It’s nice to see who your friends are though.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.